250 Years of America, and the Tax Code That Helped Build It

America turns 250 on July 4, 2026. Much of what makes this country worth celebrating, from its historic buildings and communities to its clean energy future, has been shaped by the federal tax credit.

For most of the country’s first two centuries, the federal government influenced private investment through spending, tariffs and regulation. The Tax Reform Act of 1976 changed that for historic preservation, introducing the first federal tax incentives for rehabilitating historic buildings. The Tax Reform Act of 1986 set the Historic Tax Credit (HTC) at 20% for certified historic structures. Since 1976, the HTC has supported rehabilitation of more than 49,000 buildings, generated over $199 billion in private investment and created nearly 3 million jobs in downtowns, main streets and neighborhoods across all 50 states.

Congress applied the same structure to other priorities. The Low-Income Housing Tax Credit, New Markets Tax Credit and the renewable energy credits that now finance solar, wind and battery storage across the country all work the same way: private capital directed toward public goals, with a federal credit making the economics work.

Foss & Company has been part of this history since Joe Foss founded the firm in 1983, just seven years after the first historic tax incentives became law. Over four decades and more than $11 billion in tax equity deployed, Foss has helped preserve historic buildings and finance clean energy infrastructure from coast to coast. As America marks 250 years, that work continues.

To learn more or explore a partnership, contact Foss & Company.